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Ocwen Financial Reaches New 52-Week High (OCN)

Ocwen Financial Corporation (NYSE:OCN) hit a new 52-week high Tuesday as it is currently trading at $40.50, above its previous 52-week high of $40.23 with 761,774 shares traded as of 11:35 a.m. ET. Average volume has been 2.1 million shares over the past 30 days.

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Ocwen Financial Corporation (NYSE: OCN) hit a new 52-week high Tuesday as it is currently trading at $40.50, above its previous 52-week high of $40.23 with 761,774 shares traded as of 11:35 a.m. ET. Average volume has been 2.1 million shares over the past 30 days.

Ocwen Financial has a market cap of $5.36 billion and is part of the financial sector and banking industry. Shares are up 13.6% year to date as of the close of trading on Monday.

Ocwen Financial Corporation, through its subsidiaries, provides residential and commercial mortgage loan servicing, special servicing, and asset management services in the United States and internationally. The company has a P/E ratio of 43.6, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Ocwen Financial as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Ocwen Financial Ratings Report.